LEON INVEST: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LEON INVEST
Largest movements
- Tangible fixed assets +€886,681
up €886,681 (+67.5%), from €1.3m to €2.2m
of which Land and buildings: +€698,413
- Cash +€53,800
up €53,800 (+177%), from €30,329 to €84,129
- Debts after one year +€642,971
up €642,971 (+65.5%), from €981,032 to €1.6m
- Reserves +€206,049
up €206,049 (+84.3%), from €244,375 to €450,424
- Other debts +€151,992
up €151,992 (+6.0%), from €2.5m to €2.7m
- Tax, wage and social debts -€137,880
down €137,880 (-91.2%), from €151,124 to €13,244
of which Taxes: -€133,573
- Current portion of long-term debt +€86,561
up €86,561 (+116%), from €74,646 to €161,207
- Gross operating margin +€171,527
up €171,527 (+35.7%), from €479,836 to €651,363
- Other operating charges +€100,269
up €100,269 (+5,912%), from €1,696 to €101,965
- Depreciation +€63,828
up €63,828 (+88.4%), from €72,179 to €136,007
- Financial charges +€27,516
up €27,516 (+69.0%), from €39,900 to €67,416
- Staff costs +€26,924
up €26,924 (+62.0%), from €43,429 to €70,353
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,166,608 | €5,145,649 | +€979,041 | +23.5% |
| Fixed assets | 21/28 | €3,814,214 | €4,705,895 | +€891,681 | +23.4% |
| Tangible fixed assets | 22/27 | €1,313,464 | €2,200,145 | +€886,681 | +67.5% |
| Land and buildings | 22 | €1,166,688 | €1,865,101 | +€698,413 | +59.9% |
| Plant, machinery and equipment | 23 | €46,059 | €201,031 | +€154,972 | +336% |
| Furniture and vehicles | 24 | €100,717 | €134,013 | +€33,296 | +33.1% |
| Financial fixed assets | 28 | €2,500,750 | €2,505,750 | +€5,000 | +0.2% |
| Current assets | 29/58 | €352,394 | €439,754 | +€87,360 | +24.8% |
| Amounts receivable within one year | 40/41 | €319,220 | €352,858 | +€33,638 | +10.5% |
| Trade receivables | 40 | €308,092 | €276,000 | -€32,092 | -10.4% |
| Other amounts receivable | 41 | €11,128 | €76,858 | +€65,730 | +591% |
| Cash at bank and in hand | 54/58 | €30,329 | €84,129 | +€53,800 | +177% |
| Deferred charges and accrued income | 490/1 | €2,845 | €2,767 | -€78 | -2.7% |
| Total equity and liabilities | 10/49 | €4,166,608 | €5,145,649 | +€979,041 | +23.5% |
| Equity | 10/15 | €417,881 | €623,930 | +€206,049 | +49.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €244,375 | €450,424 | +€206,049 | +84.3% |
| Distributable reserves | 133 | €244,375 | €450,424 | +€206,049 | +84.3% |
| Profit (loss) carried forward | 14 | €172,006 | €172,006 | = | 0.0% |
| Amounts payable | 17/49 | €3,748,727 | €4,521,719 | +€772,992 | +20.6% |
| Amounts payable after more than one year | 17 | €981,032 | €1,624,003 | +€642,971 | +65.5% |
| Financial debts | 170/4 | €981,032 | €1,624,003 | +€642,971 | +65.5% |
| Amounts payable within one year | 42/48 | €2,767,695 | €2,895,424 | +€127,729 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €74,646 | €161,207 | +€86,561 | +116% |
| Trade debts | 44 | €22,949 | €50,005 | +€27,056 | +118% |
| Suppliers | 440/4 | €22,949 | €50,005 | +€27,056 | +118% |
| Taxes, remuneration and social security | 45 | €151,124 | €13,244 | -€137,880 | -91.2% |
| Taxes | 450/3 | €133,749 | €176 | -€133,573 | -99.9% |
| Remuneration and social security | 454/9 | €17,375 | €13,068 | -€4,307 | -24.8% |
| Other amounts payable | 47/48 | €2,518,976 | €2,670,968 | +€151,992 | +6.0% |
| Accrued charges and deferred income | 492/3 | - | €2,292 | +€2,292 | |
| Remuneration, social security and pensions | 62 | €43,429 | €70,353 | +€26,924 | +62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,179 | €136,007 | +€63,828 | +88.4% |
| Other operating charges | 640/8 | €1,696 | €101,965 | +€100,269 | +5,912% |
| Gross operating margin | 9900 | €479,836 | €651,363 | +€171,527 | +35.7% |
| Operating profit (loss) | 9901 | €362,532 | €343,038 | -€19,494 | -5.4% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €39,900 | €67,416 | +€27,516 | +69.0% |
| Recurring financial charges | 65 | €39,900 | €67,416 | +€27,516 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €322,638 | €275,622 | -€47,016 | -14.6% |
| Income taxes | 67/77 | €52,068 | €69,573 | +€17,505 | +33.6% |
| Profit (loss) for the period | 9904 | €270,570 | €206,049 | -€64,521 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €270,570 | €206,049 | -€64,521 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.